The United States and China imposed fresh tariffs on each other’s goods on Monday. This as the world’s biggest economies showed no signs of backing down from an increasingly bitter trade dispute. Reuters reports that the dispute is expected to knock global economic growth.
Soon after the new duties went into effect, China accused the U.S. of engaging in “trade bullyism." the official Xinhua news agency said, the US was intimidating other countries to submit to its will. It also reiterated China’s willingness to fight if necessary.
But Beijing also said it was willing to restart trade negotiations with the United States if the talks are “based on mutual respect and equality."